Finance Minister Sri Mulyani Appoints JP Morgan SUN Agent

INDUSTRY.co.id - Jakarta - Finance Minister Sri Mulyani Indrawati again appointed JP Morgan Chase Bank NA as the main dealer of Sovereign Debt Instruments in accordance with Letter of Appointment Number S-45 / MK.8 / 2018 dated April 17, 2018.

Press release from the Directorate General of Financing and Risk Management of the Ministry of Finance received in Jakarta on Monday (30/4/2018) stated that the appointment of JP Morgan Chase Bank NA as the main dealer is effective since May 2, 2018.

With the re-entry of JP Morgan Chase Bank NA, the number of major SUN sellers currently becomes 20 institutions consisting of 16 banks and four securities firms.

Earlier, in early January 2017, the Finance Minister cut its partnership relationship with JP Morgan Chase Bank NA as it cut its debt rating down two ratings from overweight to underweight.

The Minister of Finance assessed that JPMorgan Chase Bank NA's research report, at that time, was not conducted through appropriate indicators and potentially disrupts the stability of the national financial system.

The following is a list of 16 banks that became SUN sellers after JP Morgan Chase Bank NA re-entered, namely Citibank NA, Deutsche Bank AG, HSBC, PT Bank ANZ Indonesia and PT Bank Central Asia, Tbk.

PT Bank Danamon Indonesia Tbk, PT Bank Mandiri (Persero) Tbk, PT Bank Negara Indonesia (Persero) Tbk and PT Bank OCBC NISP, Tbk.

In addition, PT Bank Panin, Tbk, PT Bank Rakyat Indonesia, Tbk, PT Bank Permata, Tbk, PT Bank CIMB Niaga, Tbk, Standard Chartered Bank and JP Morgan Chase Bank NA.